Young professional Excited to be Apart of Bigger Pockets

[Zack Parkins]

Hey Y'all! Excited to be here, Ive been listening to the Bigger Pockets podcast for over year now and figured it's time to join the community. I plan to do a few fix and flips in the towns around Seattle such as Bremerton, Port Orchard, and Tacoma until I have enough capital to break into the Seattle area and scoop up a couple multi families to rent out. I currently work as a Real Estate Technician where I work along side real estate agents and assist with title Research and assessments. I'm aiming to pick up a fixer upper in the next year. Im not afraid to get my hands dirty and I come from a family of trade workers so I feel confident that I can handle my own fixes. For anyone reading this, would you care to share a tip or piece of advice you wish you knew when you first started out in real estate investing? It would be greatly appreciated! Thank you and happy investing!

[Kevin Romines]

On your first few flips, don't get into heavy rehabs. Do a deal that doesn't go so deep on the rehab side of things. Look to hit a single or double, not a grand slam home run. Its your experience as you go that will get you that occasional grand slam. If you have any real estate now, look to get a HELOC so you have a tool to use for down payments and closing costs. The best thing about a HELOC is there are no monthly payments when the capital is paid back, but it is cash that can be deployed in a matter of minutes.

In the fix n flip world, you need to move fast, so fast closings will win you more deals than a 3-4 week closing. Being able to have that down payment and closing cost money ready to deploy will win you more deals. Money is made in closing a deal to rehab, then resell, so the faster you are in those areas, the more deals you have a chance to get. 

I hope this helps?

[Steven Foster Wilson]

Quote from @Zack Parkins:

Hey Y'all! Excited to be here, Ive been listening to the Bigger Pockets podcast for over year now and figured it's time to join the community. I plan to do a few fix and flips in the towns around Seattle such as Bremerton, Port Orchard, and Tacoma until I have enough capital to break into the Seattle area and scoop up a couple multi families to rent out. I currently work as a Real Estate Technician where I work along side real estate agents and assist with title Research and assessments. I'm aiming to pick up a fixer upper in the next year. Im not afraid to get my hands dirty and I come from a family of trade workers so I feel confident that I can handle my own fixes. For anyone reading this, would you care to share a tip or piece of advice you wish you knew when you first started out in real estate investing? It would be greatly appreciated! Thank you and happy investing!

 Hi Zack, 

Welcome to BP! First question is why do you not become an agent yourself? I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosak to anyone who is starting out. Start growing your network, look on Facebook/BiggerPockets for different events, find a mentor who is doing what you want to do, and get to know the local lenders/brokers.